Hey, fracking millionaires -- have they got advice for you

New drilling and extraction technologies such as hydraulic fracturing “are giving birth to a new generation of overnight millionaires,” Dow Jones says, and that opens up opportunities for financial advisers such as Jeffrey Malbasa in Beachwood.Advisers being sought out to help landowners manage their cash windfalls have “had to learn the latest drilling terms, try to grasp the promise of energy formations like the Marcellus and Utica shales and help clients assemble teams that could include attorneys who understand the ins and outs of mineral rights and gas leases,” the news service notes.Among their duties: “cautioning stunned or eager clients on the dangers of spending too quickly or before promised royalties materialize.”In many cases, the money is life-changing, says Mr. Malbasa, chief operating officer of Spero-Smith Investment Advisers Inc., a registered investment adviser that manages about $650 million.For instance, in East Liverpool, Ohio, which calls itself "The Pottery Capital of the Nation," several employees of a small mug manufacturer are going to be millionaires thanks to their land, Mr. Malbasa tells Dow Jones."How do you educate a population around how to treat this money who've never had this much money before and never expected to have it?" Mr. Malbasa asked.Financial advisers must help these investors weigh instant gratification against longer-term needs.

"The biggest battle is most people spend too much and hand out too much to other people," Mr. Malbasa notes.The first step “is to lay out assets and liabilities so the landowners realize what's achievable and what's not,” he says. Mr. Malbasa tells Dow Jones that he makes sure money that will be needed for taxes is put into liquid investments, and will recommend accountants and attorneys as well.

This and that

Flight plan:Cedar Point's newest coaster is almost ready to roll.Workers at the amusement part on Wednesday connected the last of the 102 pieces of track on GateKeeper, closing the 4,164-foot loop.GateKeeper, which will take riders up a 170-foot lift hill along the Lake Erie beach, then head toward the Cedar Point main gate at speeds up to 67 mph, is expected to be ready for opening day May 11.Boys of summer: The Northeast Ohio-shot movie that will open the 37th Cleveland International Film Festival has a new title and a formal release date.“Toy's House,” a hit at the Sundance Film Festival, has been renamed “The Kings of Summer.”Cleveland audiences will get to see it April 3 at the film festival.

Its distributor, CBS Films, is showing confidence in the coming of age comedy/drama by opening it June 14 — the same day as the Superman reboot “Man of Steel.”Cover up: If you are among the estimated 14% of Americans with a tattoo, you increasingly don't have to worry about your employment prospects, Forbes.com says.“With many contemporary companies stressing commitments to diversity and inclusion, tattoos are becoming increasingly unproblematic across the board,” according to the website.Lax tattoo policies for blue-collar and art-related jobs “aren't shocking,” Forbes.com says, “but the increasingly tolerant outlook of frontrunners in corporate, educational and medical industries are more surprising.”In medicine, “having a tattoo does not impede a person's chance at landing a position, but rules about covering them tend to be more stringent,” Forbes.com says.The story notes the Cleveland Clinic has a typical policy: “Tattoos must be covered during working hours to ensure a consistent professional appearance while working.”You also can follow me on Twitter for more news about business and Northeast Ohio. Or to tweet me with suggestions for tattoos.

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